Contract Language Key in Mitigating Supply Chain Disruption Risks

Companies in all industries are experiencing supply chain disruptions due to COVID-19. Contracts in place with your customers and suppliers will determine when and how you can terminate the contracts or negotiate payment or credit terms. Contracts which require a supplier or customer to provide indemnification could provide some financial protection. Now’s the time to review your contracts and determine what protections you may have moving forward. To mitigate your company’s risks, it’s important to recognize potential financial difficulties from buyers and suppliers early. Don’t wait until the company files for bankruptcy. The attorneys at Webb Sanders & Williams are available to assist you in contract review and negotiation. Click here for the important questions you should be asking now.